Osmonics Announces Early End of Hart-Scott-Rodino Antitrust Waiting Period

Dec. 31, 2002

Osmonics, Inc. announced yesterday that on December 24, it received early termination of the Hart-Scott-Rodino antitrust waiting period regarding its planned merger with a wholly owned subsidiary of General Electric Company.

General Electric Co. made official its plans to form a water treatment business — by combining GE Betz, GE Water Technologies and Osmonics Inc. — through its U.S. regulatory filing on Dec. 23.

GE last month bolstered its plans in water treatment, announcing it would buy Osmonics, a maker of filtration systems, for about $253 million in stock and cash. GE acquired BetzDearborn, a leading chemical water treatment business, earlier this year.

The merger remains subject to other regulatory approvals and approval by shareholders of Osmonics.

Source: Osmonics, Inc.